Orthobiologics Market to grow at 7.2% CAGR during the Forecast Period 2023 to 2030

Pune, India, April 2023/MRFR Press Release/- Market Research Future has published a half-cooked research report on the global orthobiologics market.

Orthobiologics Market Highlights

The Orthobiologics Market Size was estimated at USD 7.5 billion in 2022 and is anticipated to increase from USD 8.04 billion in 2023 to USD 12.2 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.2% over the forecast period (2023 - 2030). 

Orthobiologics are derived from the human body and used by surgeons for treating injuries. It helps in easy recovery and healing of wounds. It can be useful for treating broken bones and injured muscles, tendons, and ligaments. The surge in cases of trauma and sports injury, rising demand for biologics in minimally invasive procedures, increasing product approvals, and raising awareness are expected to drive the growth of the global orthobiologics market during the forecast period.

Moreover, emerging technological inventions in biomaterials, growing obese and geriatric population, and increasing research and development activities by top players such as mergers, expansion, and collaboration for the development of new products and launches by major players are also boosting the growth of the market. According to the report published by the Centers for Disease Control and Prevention (CDC), in 2016, 5.1% of men of 65 years and over are suffering from the lumbar spine in the US. Also, 24.5% of women 65 years of age and over have a lumbar spine in US.

The high costs associated with the orthobiologics, absence of proper reimbursement policies and scarcity of skilled workforce may hamper the growth of the market during the assessment period.

Regional Analysis

The market is likely to dominate by Americas during the forecast period owing to the well-established healthcare infrastructure, rising incidences of spinal disorders, obese and geriatric population, and preference for minimally invasive procedures.

Europe is expected to be the second-largest market in the global orthobiologics market due to the rising adoption of newly introduced treatment procedures and technologies by a physician and patient awareness, government funding and support of the healthcare sector.

The Asia-Pacific market is likely to hold a significant market share in the orthobiologics market. The rising demand for advanced treatment, awareness and increasing investment in healthcare are responsible for the growth of this market in the region.

The market in the Middle East & Africa is expected to account for the smallest share of the global orthobiologics market due to an underdeveloped healthcare sector, lack of technical knowledge, and poor medical facilities.

Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Orthobiologics Market Research Report

Segmentation

The global orthobiologics market has been segmented on the basis of product, application, end-user, and region.

Based on product, the market has been classified as a Demineralized bone matrix (DBM), Bone morphogenetic protein (BPM), Allograft, Viscosupplementation products, Synthetic bone substitutes, and Others.

Global orthobiologics market on the basis of application has been segmented into Osteoarthritis & degenerative arthritis, Spinal fusion, Fracture recovery, Soft tissue injuries, and Others.

Based on end-user, the market has been segmented into Hospitals, Orthopedic Clinics, and Others.

Key Players

Some of the key players in the global orthobiologics market are Arthrex, Inc., Exactech, Inc., Globus Medical Inc., Integra LifeSciences, Johnson & Johnson, Medline Industries, Inc., NuVasive, Inc., Stryker Corporation, Wright Medical Group N.V., Zimmer Biomet, and Others